Nigeria Treasury bills · auction of 20 May 2015
Nigeria T-bill auction, 20 May 2015: 364-day at 13.00%, down 40 bps
At the Treasury bill auction dated 20 May 2015, the Central Bank of Nigeria set stop rates on the 91-day bill at 9.95% (down 14 basis points), the 182-day bill at 12.75% (down 14 basis points) and the 364-day bill at 13.00% (down 40 basis points). The rate shown is the stop (issue) rate at the primary auction.
Demand was strong: bids totalled NGN 242.7bn against NGN 110.9bn on offer, 219% of the amount sought, and NGN 110.9bn was accepted.
Over the past year the 364-day rate has ranged from 10.14% to 15.99%.
A year earlier the 364-day bill cleared at 11.28%, so the government is paying 172 basis points more than twelve months ago.
What this means for NGN 1,000,000
Worked from the published rate · information, not advice
NGN 130,000 in 12 months on the 364-day bill
Put NGN 1,000,000 into the 364-day bill at this auction and you get back NGN 1,130,000 after 12 months: NGN 130,000 in interest before any withholding tax, about NGN 10,833 a month.
That is NGN 3,990 less than the same money would have earned at the previous auction.
For shorter money: NGN 63,750 on the 182-day bill (6 months), NGN 24,875 on the 91-day bill (3 months).
The government pays the full amount at maturity; the risk is Nigeria’s government not paying, and the money is locked until then.
Results
By tenor
| Tenor | Rate | Previous | Offered | Bids | Accepted |
|---|---|---|---|---|---|
| 91-day | 9.950% | 10.090% | NGN 32.44bn | NGN 49.27bn | NGN 32.44bn |
| 182-day | 12.750% | 12.890% | NGN 22.82bn | NGN 31.15bn | NGN 22.82bn |
| 364-day | 13.000% | 13.399% | NGN 55.68bn | NGN 162.32bn | NGN 55.68bn |
Source: Central Bank of Nigeria result · stop (issue) rate at the primary auction
Cite or reuse this data
Free to quote, chart and republish with the credit “Source: Afronomics, compiled from the Central Bank of Nigeria” and a link to this page.
Afronomics (2026). Nigeria Treasury bill auction, 20 May 2015, compiled from the Central Bank of Nigeria. Retrieved 3 October 2026, from https://www.afronomicsfeed.com/markets/tbills/nigeria/2015-05-20
Free, every weekday at 7:00
The Afronomics Morning
Africa’s markets before 7am: the currencies that moved overnight, the auction results that landed, what is due today and the headlines that matter. Plus the Weekly every Monday.